PHISGOC's financial statements will be completed 'very soon,' says Tolentino

Camille B. Naredo, ABS-CBN News

Posted at Nov 26 2020 03:21 PM

PHISGOC's financial statements will be completed 'very soon,' says Tolentino 1


MANILA, Philippines -- Philippine Olympic Committee (POC) president Abraham "Bambol" Tolentino said the much-discussed audit of the 2019 Southeast Asian Games will be submitted "very soon," amid formal complaints from members of the POC Executive Board.

The financial report has become a major talking point in the lead-up to the POC elections on Friday, with archery chief Clint Aranas -- who is challenging Tolentino in the presidential race -- leading the way in filing a civil complaint against the Philippine Southeast Asian Games Organizing Committee (PHISGOC).

Tolentino, as president of the POC, served as co-chair of the PHISGOC Executive Board together with Philippine Sports Commission (PSC) chairman William "Butch" Ramirez.

During an appearance on the Philippine Sportswriters Association (PSA) Forum last Tuesday, Tolentino assured that the financial report is on the way, especially after PHISGOC submitted the final technical report to the SEA Games Federation earlier this month.

"Tapos na nga 'yung final technical report, 'di ba, na book. So sini-ship na rin, natanggap ko na 'yung sa akin. Siguro, pinapadala na sa lahat ng NSA, sini-ship na rin sa SEA Games Federation," he said. "That's part of SEA Games, that's part of the closure."

"So definitely, after that, ang closure, ang last part na, the second part na, the financials. I'm 100% sure 'yun ang kasunod na malapit na, malapit na. Dahil hindi naman pwedeng patagalin din ng audit team 'yan," he added.

Aranas, together with POC chairman Steve Hontiveros, first vice-president Joey Romasanta, second vice-president Jeff Tamayo, treasurer Julian Camacho, and auditor Jonne Go, filed a civil complaint against PHISGOC earlier this month for their failure to provide the POC with a report that included audited financial statements.

Tolentino voted against the move and had previously said that he does not intend to rush PHISGOC in submitting the financial records. In late October, he opposed a POC measure -- again backed by Aranas -- requesting PHISGOC to submit its comprehensive report.

During the PSA Forum, Tolentino said he is confident the report will be submitted soon.

"Darating 'yan. Very soon, lalabas na 'yung audited financial report and that will be the closure of the SEA Games," he said. "After the technical report, it's the financial."

Tolentino explained that one reason for the delay is that the PSC has yet to complete its payments regarding the SEA Games. He revealed that the agency made its last transaction in the second or third week of September.

"Ang kahulihang binayaran, cycling pa eh," said Tolentino, referring to the National Sports Association (NSA) that he leads. 

"So doon, kung after 60 days mo ibe-base doon, almost end of November, so ngayon, darating 'yun, definitely," he added.

Tolentino is running for re-election as POC president, after taking over the reins in July 2019 upon the resignation of boxing chief Ricky Vargas.

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